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French bank BNP Paribas has appointed a former Credit Suisse regional chief in Germany in a new role to lead its investment banking team in the country, which continues to grow in importance as a revenue generator for financial institutions.

BNP Paribas has appointed Torsten Murke as deputy country head and head of investment banking in Germany. He will take on this newly-created role and assume responsibility for investment banking and corporate finance teams in the country, the bank said today.

Murke, who leaves Credit Suisse, where he had been jointly responsible for investment banking in Germany and Austria, is set to join BNP Paribas Frankfurt office in October. He has previously held roles at Lazard and JP Morgan.

Germany has been growing in importance for investment banks in recent quarters. Merger and acquisition activity has surged to such an extent, due to large deals in the automotive and industrial sectors, that it is likely to overtake the UK as the current leader in Europe in terms of revenues, according to data from Thomson Reuters.

Bankers speaking to Financial News said although revenue from investment banking activities was still behind that earned in the UK, because the German economy had come through the financial crisis in relatively better shape and its domestic businesses were benefiting from a weak euro, the country could also leapfrog its neighbour in this regard.

Thierry Varène, head of investment banking Europe and global head of corporate finance, said: “Torsten’s appointment witnesses the commitment of BNP Paribas to Germany."

A note from the bank added that it was following an ambitious growth plan in Germany.

See Financial News on Monday for an in-depth view on M&A activity in Germany.